ES discussion for Monday 7/27/09

Hmmm, lots of actions and posts in here again today, I see.

Did everyone see the ABCD at 13:30-31, right at key lines? And the lines here now that it is doing epic battle with? And the potential ABCD up higher that this last ABCD may be just a BC leg of? Where are the W3 areas if this potential CD leg is a W3? Where are the IB 50% and 100%? And the GLOBEX high? If this area doesn't turn it...

Everyone see the GLOBEX line coming up right in here?

Watch for that 2 tick possible DT stop run and snap reversal they like so much.

Let's see if this TD here sends it up, or if that 2 tick-er sends it down. Key decision point. TD at key area.

Okay, TD fulfills its primary objective.

Don't confuse 'primary objective' with 'profit target' or 'profit objective', as we all know I use neither.

Now, keep an eye on a possible 3D into this ABCD area. Very interesting setup, and great for clues. My thinking is this is more likely a W3, but I'll follow the clues and price action.

Watch this .886...

Flat ABCD here, also watch the DT ABCD, off this .886, then we see what it wants.

DT ABCD, line, .382, now we see if they plan to run this into the close towards the IB.

Okay, that's it for the one man show. I had fun writing in my journal today. I hope everyone pounded this thing today, I think it traded just fantastically. I'll post the ex post facto later. Sure looks like this thing wants up. Make sure you are following the overnight, as the trading the last week plus has been just incredible, with some fantastic moves that in my opinion have been very, very tradable.